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ACC- Rick Company’s beginning inventory and purchases

Question # 00006279
Subject: Business / Accounting
Due on: 01/08/2014
Posted On: 01/08/2014 06:45 AM
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Rick Company’s beginning inventory and purchases during the fiscal year ended December 31, 2012, were as follows: (Note: The company uses a perpetual system of inventory.)

Units Unit Price Total Cost
January 1—Beginning inventory 18 $24 $432
March 12—Sold 13
April 11—Purchase 45 $29 $1,305
June 20—Sold 33
Aug 16—Purchase 35 $27 $945
Sept 11—Sold 29
Total Cost of Inventory
Ending inventory is 23 units. $2,682

What is the cost of goods sold for Rick Company for 2012 using LIFO?
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ACC- Rick Company’s beginning inventory and purchases

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Posted On: 01/08/2014 06:46 AM
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Tutorial Preview …The xxxxxxx uses x perpetual system xx inventory )Units xxxx Price xxxxx xxxxxxxxxxx 1—Beginning xxxxxxxxx 18 $24 xxxxxxxxx 12—Sold 13April xxxxxxxxxxxxx…
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